You cannot buy any property without research. It needs proper research and many factors considered before buying. Factors like location, market value, facilities and other real estate factors. Following are some factors you should have to avoid while buying the property.
Don’t go for undeveloped areas
It is the era of housing societies in real estate. Don’t buy any property in under construction housing society. As there is no guarantee of proper development plans and documentation. Sometimes, people start housing societies without legal documentation and it costs you, your money as well as time.
So, also go for developed areas and reputed projects like DHA.
Check out the Facilities
The most important factor is security when it comes to facilities. People should only go for the housing societies where proper security and maintenance is provided. This feature is necessary because of the current circumstances of the country.
Another important factor is the area with low crime ratio. According to agents, buyer and investors always search for areas of security and personal safety.
Check Noise levels & Convenience
Always buy property where the noise level is minimum or the area has low traffic. Commercial areas are not suitable for homes because of the high traffic and noise. Homes near schools are also a bad idea. You should have to face traffic jam issue in Moring and afternoon and also it is hard for you to maintain the outdoor area.
Avoid Property near a drain
According to research, the worst scenario is buying property to the location near an open drain. You will face sanitary risks if you buy property new an open drain. It also costs you health issues.
Projects Failure in Pakistan
According to a survey Multipurpose Cooperative Housing Society, NADRA Employees Cooperative Housing Society, Islamic University Staff Cooperative Housing Society, Banks Employees Cooperative Housing Society, Christian Multipurpose Cooperative Housing Society, Rail Garden Employees Cooperative Housing Society and the Baltistan Cooperative Housing Society, Islamabad failed because of liquidation problem. All these projects are from the year 2017 and failed before their launch.
Other major reasons for housing projects failure are low cost and bribe culture. Due to these reasons, several projects failed in Karachi. Due to bribe culture, the cost of the projects increased and people can’t afford it.
These are the main factors that one should have to consider before buying a property. If you want to share some new factors please share in comments.
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We advise our users always go to the face to face meeting and dealing. In this way, you can ask the queries that trouble you with the seller or buyer. We wish you best of luck for your future dealing.